Ann: Appoints new Chief Executive Officer Louis DiNardo-BRN.AX, page-119

The casino deal derives from the acquisition of SpikeNet and the integration of the two (SpikeNet and SNAP).

Milestone 4 is entirely seperate.

It is executed when:
1. BrainChip's SNAP technology is licensed for an application (e.g. product pipeline or sole application) for no less than $500K upfront.
2. This will then trigger NRE fees, BrainChip's team will be paid to design the application.
3. Then BrainChip will receive royalties on the application.

Foster reported BrainChip [was being conservative] are expecting higher than expected upfront licence fee of $2M - $10M. NRE can be in millions of revenue. Royalties can also be in the millions.

And that is for ONE agreement with a company.

BrainChip might achieve 2 this year.

And that number will only accelerate next year.

Ergo, Milestone 4 is the most defining announcement for BrainChip.